Singapore's port authority has so far invested S$26 million ($19 million) into developing cleaner-burning liquefied natural gas (LNG) as a marine fuel at the city-state, the world's largest marine refueling hub, an executive at the port authority said…
South Korea's large family-owned business conglomerate SK Group is planning to get out of shipping by offloading shipping subsidiary SK Shipping Co., on account of the debt burden amid an industry slowdown.According to a report in the Pulse…
Greece-based Pyxis Tankers announced that it had successfully completed the refinancing of a previous loan facility for the Pyxis Epsilon.The emerging growth pure play product tanker company said in a press release that after repayment of existing bank debt…
International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by 1.3% in 2017. This compares with the 1.1% average fall in costs recorded for 2016. For the third successive year…
Shippers ferrying Ghana's cocoa exports to Europe will cut their freight charges by 9.4 percent for the October-September season to compensate the country for recent global bean price falls, the head of the Ghana shippers authority said on Friday…
Rodolphe Saadé, chairman and chief executive officer of CMA CGM Group and French minister in charge of transport Elisabeth Borne inaugurated ZeBox, a new start-up incubator and accelerator in Marseilles.Initiated by CMA CGM, ZeBox is a human…
Louis Dreyfus Company announced the surprise departures of its chief executive and head of finance on Tuesday, triggering another reshuffle at the commodities giant as it strives to recover from weak agricultural markets.The group said in a…
No less than 15 shipping companies, many of them top 10 liner companies, have written to Port of Houston Chairman Janice Longoria to reject the latest call for substantial rate hikes on the Houston Ship Channel. Local pilots already earn salaries that approach $500…
New trading sanctions against Iran and new fuel rules coming in 2020 for the entire maritime sector were the headlines of a seminar hosted by marine insurer North P&I Club yesterday in Dubai at the Taj Dubai.On the topic of sanctions against Iran…
Russia's grain exports are slowing due to tougher quality controls at ports following complaints from major buyers, along with a stronger rouble currency, analysts, traders and an industry lobby said.Russia's food safety watchdog beefed up quality…
The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the fifth consecutive day on Tuesday supported by gains across vessel segments.The overall index, which factors in rates for capesize…
Shipping confidence dipped very slightly in the three months to end-August 2018, according to the latest Confidence Survey from international accountant and shipping adviser Moore Stephens. Moore Stephens' Richard Greiner weighs in:The average confidence level expressed by respondents was down to 6…
Container shipping group CMA CGM said it estimates the cost for it to comply with a new global low-sulphur shipping fuel regulation at around $160 per TEU, or standard container, at current conditions.In a statement on Monday, the French firm…
The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping…
Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore…
